Meet the Liaisons James Zhang (SE), Prasanna Venugopa

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Tuesday, October 16, 2007
730-830pm
Introduction Joe Walker, Director of the
Y2K/Y50K The Competition Mike Zink, Associate
Director of the Y2K/Y50K What is the Y2K? What
is its mission? Why should I enter? Meet the
Liaisons James Zhang (SE), Prasanna Venugopal
(LS), Mike Ma (FP) What is Social
Entrepreneurship? What is Life Sciences? What
is For-Profit? Meet the Winners James Park
(PostPeerReview) Shawn Liu Jennie Vry (Smooth
Easy) Developing an Idea, Teambuilding, Entering
the Y2K, Words of Wisdom The Entry Process Joe
Walker Y2K Specifics, Y50K Specifics, Judging,
Eligibility, Submission, What is YES Questions
Answers Refreshments Teambuilding
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Yale Entrepreneurial Society2007 Y2K Business
Idea Competition
Kickoff Event
http//yesatyale.org/y2k.php
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YES I What is YES?

• entirely student-run
• independent 501(c)(3) non-profit corporation
• dedicated to promoting and supporting business
  entrepreneurship
• at Yale and in New Haven
• over 2,400 members worldwide

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YES II Our Mission

• Offer educational and networking opportunities to
  foster new venture creation and economic
  development.
• Provide resources to Yale entrepreneurs to assist
  their endeavors.
• Maintain a forum for discussion of new business
  ideas.

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YES III Our Initiatives

• Entrepreneurship competitions
• Y2K 2,100 Executive Summary Competition
• Y50K 52,500 Business Plan Competition
• Yales magazine of business and entrepreneurship
• The Yale Entrepreneur
• Events
• Entrepreneurship Competition events kickoffs,
  teambuilders, educational events
• On-campus events speakers, panels, seminars,
  forums, fireside chats
• Regional events New York, Boston, Omaha (Warren
  Buffet), Silicon Valley
• Other student initiatives
• The Project! business idea incubator from which
  new enterprises are launched
• Yale Entrepreneurial Institute (YEI) a paid,
  10-week long summer fellowship program at Yale
• Other community initiatives
• YES World regional chapters
• YES-New Haven High School Program
• local business consulting
• Office resources
• YES Center, 254 Elm Street (across Broadway from
  Au Bon Pain)
• Web resources

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Y2K Entry Submissions

• a short 2-3 page, written description of
• market opportunity for your service or product
• the product or services concept
• your competitive advantage
• brief description of the skills, achievements,
  and other qualities that you and any team member
  bring to the process of creating a new company

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Y2K Prizes I

• feedback
• valuable feedback from our judges gives you an
  extra edge in the spring Y50K business plan
  competition
• venture capital funding competition
• automatic qualification into the 2008 CTT
  Innovation Conference
• final round YEI interviews
• automatic eligibility for final round interviews
  for admission to the YEI summer program
• one of nine cash prizes
• checks are made out to individual team members
• business incorporation is not required

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Y2K Prizes II

• 2,100 in cash prizes will be split among winning
  entries as follows
• Social Entrepreneurship
• 1st Place - 400
• 2nd Place - 200
• 3rd Place - 100
• Life Sciences
• 1st Place - 400
• 2nd Place - 200
• 3rd Place - 100
• For-Profit
• 1st Place - 400
• 2nd Place - 200
• 3rd Place - 100

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Y50K Entry Submissions

• The Y50K competition consists of the following 3
  rounds
• Registration
• 2-3 page executive summary, judge feedback, no
  elimination
• Second Round
• 30-page business plan, judge feedback, finalists
  selected
• Final Round
• live presentations before a panel of judges
  during YESs Innovation Summit on a Saturday in
  late April

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Y50K Prizes I

• one of nine cash prizes
• checks are made out to incorporated businesses
• teams must incorporate their business to redeem
  cash prizes

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Y50K Prizes II

• 52,500 in cash prizes will be split among
  winning entries as follows
• Social Entrepreneurship
• 1st Place - 10,000
• 2nd Place - 5,000
• 3rd Place - 2,500
• Life Sciences
• 1st Place - 10,000
• 2nd Place - 5,000
• 3rd Place - 2,500
• For-Profit
• 1st Place - 10,000
• 2nd Place - 5,000
• 3rd Place - 2,500

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Judging I

• judges are members of the Yale and New Haven
  venture communities
• experienced entrepreneurs
• venture capitalists
• legal professionals
• patent experts

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Judging II

• general judging criteria mimic those used by
  industry, private investors, and venture
  capitalists in evaluating the attractiveness of
  new venture opportunities
• feasibility
• high growth potential
• quality and breadth of team
• ability to withstand competition
• originality of any new technology
• market leadership potential
• well-defined market opportunity
• written quality of entry

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Judging III

• Social Entrepreneurship entries
• evaluated on overall potential of being most
  socially beneficial
• entries may be either for-profit or
  not-for-profit
• must stress social responsibility above any
  profit motive
• present venture ideas that address the needs of
  the larger community in new and efficient ways
• ideas that combine a philanthropic mission with
  entrepreneurial drive and discipline

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Guidelines

• full-time and part-time Yale students, staff, and
  faculty
• all levels of education and from any department
• students must be registered in the current
  semester, Fall 2007
• if you dont meet these
  requirements, you may still participate on a team
  provided that at
• least one principal team member
  does meet these requirements
• teams may seek involvement from anyone
• entries must be the original work of entrants
• size of a team is not restricted individual or
  multi-member teams
• of entries submitted by an individual or team
  is not restricted
• teams that have already secured capital from
  other sources must disclose the amounts and
  sources
• the organizers and judges reserve the
  right to disqualify any entry that in its
  judgment violates the letter or the spirit of the
  competition guidelines

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Confidentiality

• all submissions remain confidential
• all intellectual property remains protected
• organizers, judges, and co-sponsoring
  organizations make no claim to any property or
  rights
• all organizers, judges, and co-sponsoring
  organizations agree verbally to non-disclosure
  agreements

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The Y2K Entry I

• General Guidelines
• you may submit a maximum of 1200 words (2-3
  pages) describing your business idea
• judges appreciate brevity and clarity!
• Entries must be submitted electronically at YESs
  website www.yes.yale.edu
• a new Y2K submission website is currently under
  development and will become available by
  Thanksgiving
• Y2K Deadline 600am, Sunday, December 16th
• 2 months from today!

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The Y2K Entry II

• What do I include in my summary?
• Public Summary
• how would you describe your idea to the public?
• do not disclose any proprietary information or
  technology
• Opportunity Statement / Elevator Pitch
• how would you describe the business to a
  potential investor, team member, or customer if
  you had only a short elevator ride to share
  together?
• use 1-3 sentences

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The Y2K Entry III

• 3. Market Opportunity and Strategy
• what existing problem(s) will you solve with your
  service or product?
• what are the primary benefits to customers?
• what is the level of potential sales of your
  product or service?
• how will these sales happen?
• who will your first customer(s) be?

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The Y2K Entry IV

• 4. Product or Service Concept
• how will you sell your product or service?
• where does your revenue come from?
• develop a brief concept statement for the product
  or service that can be shown to potential
  customers
• 5. Competitive Advantage
• who will the competitors be?
• How will your product or service compare to those
  of your competitors in terms of usefulness, cost,
  styling, ergonomics, time-to-market, strategic
  alliance, technological innovations,
  compatibility with related products, etc.?

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The Y2K Entry V

• 6. Team
• include a paragraph summary of each team members
  background applicable to the proposed venture
• if the full team is not assembled, include a
  description of the desired background and skills
  of the team members remaining to be recruited
• 7. Entry Agreement
• this is available online at http//yesatyale.org/y
  2k.php
• it should be completed and submitted with your
  entry

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Schedule of Events
Tues, 10/17 Y2K Kickoff Thurs,
10/25 Teambuilder Event 1, 700-830pm, BAR Week
of Mon, 10/29 Teambuilder Event 2 Week of Mon,
11/5 How To Write An Executive Summary Week of
Mon, 11/12 Life Sciences Event Week of Mon,
11/19 Thanksgiving Break, nothing scheduled Week
of Mon, 11/26 For-Profit Event Week of Mon,
12/3 Social Entrepreneurship Event Week of Mon,
12/10 Y50K Informational Meeting Sun,
12/16 Y2K Submission Deadline by 600am Mid
January Y2K Awards Ceremony Late January Y50K
Kickoff
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Next Steps

• Pick up 2007 Y2K Contestant Kit
• Register on signup sheet to be on the 2007 Y2K
  mailing list
• Stay after the Kickoff for refreshments and
  teambuilding
• Download from Y2K website http//yesatyale.org/y2k
  .php
• - 2007 Y2K Contestant Kit
• - 2007 Y2K Entry Agreement
• - 2007 Y2K Prize Claim Form
• Attend next weeks Teambuilder Event 1
• - next Thursday, 10/25
• - 700-830pm
• - BAR

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Q/A